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we get past the final resolution to the debt ceiling that's been pushed off until may. that could be another little bounce. we could see the italian elections go well and ver sanny come and everybody settles back koun in europe. there are things that can happen but they generally involve the market climbing a wall of worry, and then getting past that event. generally market have been very, very pollee anna like in their determination to believe that policy makers get things done this year. that is probably the biggest difference between 2009 and 2010. >> gina, to dan's point, i would feel more comfortable if we add three to four-month period. i would love to talk about the dow everyday. it is optimistic and good news, wouldn't it be healthier with a reset period. >> a die jefgestinondigestion, >> yes, it would absolutely be healthier. the market has been running quite fast. my view is that it will probably continue to build on itself until we start to see probably a string of disappointments around growth towards the second half. maybe even into the fourth quarter. so y
we get past the final resolution to the debt ceiling that's been pushed off until may. that could be another little bounce. we could see the italian elections go well and ver sanny come and everybody settles back koun in europe. there are things that can happen but they generally involve the market climbing a wall of worry, and then getting past that event. generally market have been very, very pollee anna like in their determination to believe that policy makers get things done this year. that...
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some time after that between mid-may and the first of august, you've got the debt ceiling. i think those things are going to involve some serious discussion about long-term entitlement spending. we're at the table. we've passed the ryan budget twice. we'll pass another very aggressive budget by congressman ryan in mid-april. so we're willing to go there. and we're willing to provide most of the votes. the president's got to be willing to bring some democratic votes. he's never been willing to compromise with the minority of his party and bringing them along. >> right. >> he's going to have to lead. so far in that area, he's chosen not to lead. >> we'll leave it there. thanks very much for your time today. >> thank you. >> we'll see you soon. representative tom cole joining us in washington. >>> up next, bombshell in italy. pope stepping down. i'll speak with the head of the italian business initiative about why this is happening. and what's next. >>> and later, another bombshell of sorts. breaking the news they're reducing the alcohol content of the bourbon bearing its name
some time after that between mid-may and the first of august, you've got the debt ceiling. i think those things are going to involve some serious discussion about long-term entitlement spending. we're at the table. we've passed the ryan budget twice. we'll pass another very aggressive budget by congressman ryan in mid-april. so we're willing to go there. and we're willing to provide most of the votes. the president's got to be willing to bring some democratic votes. he's never been willing to...
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we want to hear what's going to happen with sequestration and the debt ceiling. then on wednesday morning, we also have core retail sales. that's going to give an indication of what the consumer trend might be. is the consumer in the same field of flowers and unicorns and daisies that the u.s. equity investor is in? i think that's probably what we're going to see. >> already we're not seeing a lot of alternatives for folks' money other than stocks because of the low rate environment. andrew, how are you investing right now? >> well, we're probably going to go ahead and move in this market. looks like the pullback is more likely 1650 back to these levels. so more than likely now is probably the time to ease into the market. you've got tremendous momentum and breath here. you're fighting the tape, as they say. this is probably the time to deploy. >> meanwhile, rick santelli, the race to the bottom of the currency markets was interrupted today. horror of horrors. japanese officials saying they don't want the currency to go much lower. and the euro moving higher as w
we want to hear what's going to happen with sequestration and the debt ceiling. then on wednesday morning, we also have core retail sales. that's going to give an indication of what the consumer trend might be. is the consumer in the same field of flowers and unicorns and daisies that the u.s. equity investor is in? i think that's probably what we're going to see. >> already we're not seeing a lot of alternatives for folks' money other than stocks because of the low rate environment....
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ceiling. that's probably the big risk that the market was worried about. >> you made recent changes to your 2013 allocation strategy. some of them are interesting. high volatility u.s. large caps and micro cap stocks. it would seem you're increasing the beta place. when you say u.s. large cap volatile stocks, what do you mean by that? >> well, we believe that there's an evolution in the asset classes that investors are going to be tapping into in the next decade. you know, if you look back over the last 20 years, people spent a lot of time arguing, what was the value stock, what was a growth stock. and a lot of times it was in the eye of the beholder. volatility is a much more objective mesh yasure of what a stock is. you can do very good long term, 80 and 90-year analysis of what this asset class means. and right now, we show high volatility stocks have been beaten down very, very much in the rally, relative to low volatility, sort of bond proxy stocks. that suggests to us that they're one of
ceiling. that's probably the big risk that the market was worried about. >> you made recent changes to your 2013 allocation strategy. some of them are interesting. high volatility u.s. large caps and micro cap stocks. it would seem you're increasing the beta place. when you say u.s. large cap volatile stocks, what do you mean by that? >> well, we believe that there's an evolution in the asset classes that investors are going to be tapping into in the next decade. you know, if you...
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Feb 11, 2013
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they used it as a way to hold the debt ceiling to ransom. the only leverage they have is leverage to lower their poll ratings and lower the boom on the american economy. the cbo says if you do this, you won't get unemployment under 7.5% before 2015. you could actually push this economy back into another recession and republicans who use this strategy from 2009 on wrecked the economy to try to wreck obama, weren't able to sell that to the american people in 2012. they can't sell it to the american people now. and you can't rebrand yourself as a party if you're wearing the scarlet letter of deception and economic destruction. >> that's absolutely true. karen, republicans seem to think that they've got the president in a real bind over this sequester. take a listen to this. >> that's not fair. >> democrats are exactly where the republicans were six weeks ago. look, taxes were going up by law. the only question was were you going to negotiate a good package, save as many of the bush tax cuts as you could? >> karen, they're now saying republicans
they used it as a way to hold the debt ceiling to ransom. the only leverage they have is leverage to lower their poll ratings and lower the boom on the american economy. the cbo says if you do this, you won't get unemployment under 7.5% before 2015. you could actually push this economy back into another recession and republicans who use this strategy from 2009 on wrecked the economy to try to wreck obama, weren't able to sell that to the american people in 2012. they can't sell it to the...
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. >>> i will not negotiate around the debt ceiling. they will not collect a ransom in exchange for the american economy. ordinary folks, they do their jobs. the notion that the elected leadership can do the same thing is mind boggling. it needs to stop. everybody here upts e understands this. this is not a complicated concept. >> the president is not backingdown from republicans. he's bringing the fight to them. today, we learn these executive actions on housing, gay rights and other issues. a gig move to bypass do-noeg republicans in congress. priding congress to pass his agenda and he's getting help from the american people to prod them, too. and those same su prters will launch a public out reach campaign to promote his agenda. then he'll take his vision on the road. as the president has said, change doesn't come from inside. it comes from outside. it comes from the people. >> for we, the people, understand that our country cannot succeed when a shrinking few do were well and a groix many bare lif make it. >> the election four years
. >>> i will not negotiate around the debt ceiling. they will not collect a ransom in exchange for the american economy. ordinary folks, they do their jobs. the notion that the elected leadership can do the same thing is mind boggling. it needs to stop. everybody here upts e understands this. this is not a complicated concept. >> the president is not backingdown from republicans. he's bringing the fight to them. today, we learn these executive actions on housing, gay rights and...
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fast forward 18 months we've resolved the debt ceiling issues and the fiscal cliff to boot. the ecb has done a 180 on supporting spain. the equity markets have more than fully recovered and yet bonds are still mired down to 1 1/2 to 2%. if this is year people wake up and say rates are too low for the conditions. lori:. lori: do you believe the markets are undervalued. many are near 52-week highs. many all-time highs but you still think there is value? >> we look long term people get obsessed with numbers on the s&p because that is where we peaked back in '99 and 2000. they assumed it was overvalued there because it was overvalued then. in our price matters '99 and 2000 that was 100% overvalued. that happened four times in history. every time that's happened you spend about 12 to 14 years chopping sideways. we're getting to the end of that. on that same 1550 type level we're now thinking it is 10 to 15% undervalued. why would that be? well earnings have more than doubled in that 13-year period. ashley: so where, i'm an investor. i'm getting out of bonds. i want a slice of thi
fast forward 18 months we've resolved the debt ceiling issues and the fiscal cliff to boot. the ecb has done a 180 on supporting spain. the equity markets have more than fully recovered and yet bonds are still mired down to 1 1/2 to 2%. if this is year people wake up and say rates are too low for the conditions. lori:. lori: do you believe the markets are undervalued. many are near 52-week highs. many all-time highs but you still think there is value? >> we look long term people get...
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ceiling, and it looks like spending will be cut, but not the way anybody wants it to. >> if the sequester is allowed to go on, thousands of americans in fields like national security, education or clean energy are likely to be laid off. >> i don't like the sequester, and i think that it is taking a meat aex to the government a meat ax to many of the programs and it will weaken our national defense. >> there yu go. nobody likes it. okay. but the ut cuts amts to $85 million spread out over seven months from the beginning of march to september 30th, the end of the fiscal year of 2013, and according to the white house it would take a 13% out of defense budgets and 9% on domestic spending. what is at stake? it is civilian federal agencies to chop their budget by more than 8%, and to do it, they would cut workers and programs. for example on the education front, more than 1 million students could lose title one and head start benefits. and senior meals could all be cut on top of agencies like the ads and the social security, and food stamps and veterans' benefits, and social security and medica
ceiling, and it looks like spending will be cut, but not the way anybody wants it to. >> if the sequester is allowed to go on, thousands of americans in fields like national security, education or clean energy are likely to be laid off. >> i don't like the sequester, and i think that it is taking a meat aex to the government a meat ax to many of the programs and it will weaken our national defense. >> there yu go. nobody likes it. okay. but the ut cuts amts to $85 million...
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rubio voted against raising the debt ceiling, thus provoking the credit downgrade that accompanied the fiasco in 2011. he supported governor rick scott's abominable attempt to suppress the vote in florida. he co-sponsored a bill which would enable employers to deny birth control to their employees, and despite the fact that 97% of researchers polled by the national academy of sciences believe in manmade climate change, mr. rubio remains unconvinced. if the republican party wishes to do nothing more than a small amount of cosmetic surgery on its public image, then mr. rubio seems like the perfect salesman. but scratch the surface, and mr. rubio is infected with the same old backward-facing policies that the voters rejected so comprehensively in november. thanks so much for watching this afternoon. chris matthews and "hardball" is next. >>> new pope. let's play "hardball." ♪ >>> good evening. i'm chris matthews in washington. let me start tonight with this stunning news today that the head of the 1.2 billion. person roman catholic church is retiring at the end of the month. this is the
rubio voted against raising the debt ceiling, thus provoking the credit downgrade that accompanied the fiasco in 2011. he supported governor rick scott's abominable attempt to suppress the vote in florida. he co-sponsored a bill which would enable employers to deny birth control to their employees, and despite the fact that 97% of researchers polled by the national academy of sciences believe in manmade climate change, mr. rubio remains unconvinced. if the republican party wishes to do nothing...
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Feb 12, 2013
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ceiling discussion, that the sequestration discussion. only with a balanced approach long-term 10 years but in an orderly way keeps the doctor fixed sgr, takes care of the other cats and dogs out there, can you not have been major disruptions of sequestration, but they get to where will be. we do sadly have debt deniers in both parties and in both houses of congress. those deniers but that she believe adobe to raise revenues that we don't have a spending problem. both are patently incorrect. such merits a state of the union address and the president has an opportunity has begun to sequestration to use leadership of the south is that only the president of the united states can use. i think this group is very much hoping president obama as he takes to develop a host as a backup about the desire to work together for a true balanced approach, not a balanced approach there really isn't balanced any halfway by john boehner and house republicans in fashioning a deal that saves the country. so at this time, it is my pleasure to call up my former
ceiling discussion, that the sequestration discussion. only with a balanced approach long-term 10 years but in an orderly way keeps the doctor fixed sgr, takes care of the other cats and dogs out there, can you not have been major disruptions of sequestration, but they get to where will be. we do sadly have debt deniers in both parties and in both houses of congress. those deniers but that she believe adobe to raise revenues that we don't have a spending problem. both are patently incorrect....
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it will now occur not on the debt ceiling but on the sequestration discussion. only with a balanced approach in an orderly way takes care of the alternative minimum tax. it takes care of the other cats and dogs that are out there. can you not have the major disruptions by get to where everybody is where they want to go? they would let you pick one where they do not need to raise revenues or they do not have a spending problem. both are patently incorrect. tomorrow is the state of the union address. the president has an opportunity to use the leadership of his office that only the president of united states can use. i think this is very much open to president obama as he takes to the house. he talks about the desire to work together for a true balanced approach, not a balanced approach that is not balanced. he could be met halfway by john boehner and the house republicans. that saves the country. it is my pleasure to call up my former budget committee chairman. it is nice to be part of a group with people you have read about in history books. this fellow i did se
it will now occur not on the debt ceiling but on the sequestration discussion. only with a balanced approach in an orderly way takes care of the alternative minimum tax. it takes care of the other cats and dogs that are out there. can you not have the major disruptions by get to where everybody is where they want to go? they would let you pick one where they do not need to raise revenues or they do not have a spending problem. both are patently incorrect. tomorrow is the state of the union...